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Eligibility required for Dhanlaxmi Bank Home Loan

✓ Employees, Professionals, Businessmen, Agriculturists/NRIs with an annual income of over Rs. 1.2 lakh
✓ Loan to be repaid before the borrower attains the age of 60 years
✓ Salaried employees with a net monthly income of at least Rs. 6,000 including that of spouse, with a minimum 1 year of leftover service after completion of the eligible loan period.
✓ NRIs (Non-Resident Indians) and PIOs (Persons of Indian Origin) below 55 years of age and employed overseas for at least 24 months with assured recurring earnings*.
✓ Repayment tenure from 3 years to 20 years*

*Eligibility Criteria for NRIs / PIOs (Persons of Indian Origin)

✓ The maximum loan amount permissible is 60 times of take home pay, subject to restrictions so that the loan can be repaid within the remaining period of the borrower’s gainful employment with 30% of earnings.
✓ Only applications for loans over Rs. 2 lakhs will be considered.

The maximum loan amount is Rs. 2.5 crores (Rs. 50 lakh for purchase of plot). The loan amount eligible is subject to the lowest of the following:
✓ 85% of cost of construction/value of house/flat for new dwelling units
✓ 70% of purchase cost in the case of purchase of residential plots
✓ 75% of cost for existing dwelling units/repairs
✓ In case of employed persons, the maximum loan amount can be up to 60 times of the net monthly take home salary including that of spouse. This is subject to furnishing satisfactory evidence, even as other income of a permanent nature like interest on deposits/ investment, rental income etc. can be considered in computations to arrive at the net monthly income
✓ For all other borrowers, the maximum loan amount can be five times the net annual income as per IT Return